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BAD COMPANY ENTERTAINMENT LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
Bad Company Entertainment Limited is a private company, limited by shares, registered in England and Wales, registration number
01184335
. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of supplying the services of group Bad Company as recording artistes and composers throughout the world excluding the United Kingdom and the Irish Republic.
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Accounting policies
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Basis of preparation of financial statements
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The finanacial statements have been prepared under the historical cost convension unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The directors are assessing on a daily basis the impact of the significant uncertainty arising from the COVID-19 virus. The directors appreciate there is significant uncertainty surrounding the future economic climate. The company is in the entertainment industry but it is sheltered from the unprecedented epidemic as its source of income is the receipt and distribution of record royalties. The directors have reviewed the financial circumstances of the company and confirm that they will support the company as necessary for at least 12 months from the balance sheet date. The directors are satisfied that the company will be able to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements, which have been prepared on the going concern basis.
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Functional and presentation currency
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The company's functional and presentational currency is pound sterling.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the rendering of services is recognised when it is probable the company will receive the right to the consideration due under the contract.
Royalties receivable are recognised at the year end date by the company.
Interest income is recognised in profit or loss using the effective interest method.
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